Luk Fook Holdings (00590) Slides Over 5% in Morning Trading as High Base Slows Second-Quarter Growth, Channel Adjustments May Be Nearing an End

Stock News10:14

Luk Fook Holdings (00590) fell more than 5% in morning trading. As of press time, the stock was down 5.48% at HK$20.02, with turnover of HK$14.3376 million.

On the news front, Luk Fook Holdings recently announced that in the second quarter of fiscal year 2027 (July-September), overall retail value rose 8% year-on-year, with mainland China declining 2% year-on-year while the Hong Kong and Macau markets grew 17% year-on-year; overall retail revenue rose 23% year-on-year, with mainland China up 28% year-on-year and the Hong Kong and Macau markets up 17% year-on-year.

According to a research report released by Xinda Securities, in terms of same-store sales, the company's self-operated stores saw same-store sales rise 12% year-on-year in the second quarter of fiscal year 2027, with mainland China up 3% year-on-year and the Hong Kong and Macau markets up 13% year-on-year, both slowing compared with the first quarter; brand stores, which account for about 90% of mainland store count, saw same-store sales rise 1% year-on-year.

The bank noted that the number of net store closures in mainland China narrowed significantly compared with the previous quarter, and channel adjustments may be gradually coming to an end.

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